Ep. 7: Michael Shannon and Jim Byers Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
Michael Covel
4.6 • 732 Ratings
🗓️ 4 April 2012
⏱️ 78 minutes
🧾️ Download transcript
Summary
My guests today are Michael Shannon and Jim Byers.
Shannon, an original Turtle trader trained by Richard Dennis. He was featured in Michael Covel's The Complete TurtleTrader.
Byers is a trader and investor. In the 2006-2008 period, Byers started studying trend following; since then, he's started a fund with his partner, Todd Miller.
The topics are the Turtle story and Trend Following.
In this episode of Trend Following Radio we discuss:
- Shannon's experience in the Turtle program with Richard Dennis and William Eckhardt
- Historical insights and anecdotes regarding the legendary Turtle story
- Shannon's unlikely background
- The personalities of Dennis and Eckhardt
- Why Turtles with outsider backgrounds were generally more successful; and whether or not Dennis and Eckhardt were inspired by the film, "Trading Places"
- How trend following can still be a winning game even if you aren't right the majority of the time
- More in depth "light bulb" moments that Byers has had since taking up trend following
Jump in!
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I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.
To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/
You can watch a free video here: https://www.trendfollowing.com/video/
Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast
My social media platforms:
Twitter: @covel
Facebook: @trendfollowing
LinkedIn: @covel
Instagram: @mikecovel
Hope you enjoy my never-ending podcast conversation!
Transcript
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| 0:00.0 | This is Trend Following Radio, where great thinking comes alive. |
| 0:10.9 | Nobel Prize winners, legendary traders, bestselling authors, and the pros that know what drive us irrational human beings. |
| 0:21.2 | I am your host, Michael Covel. |
| 0:24.0 | Not filtered, raw, honest. |
| 0:27.3 | That's my passion. |
| 0:33.3 | I've had the opportunity to really talk to some interesting people over the years. |
| 0:38.5 | I mean, some real characters. |
| 0:40.1 | And some of the characters have helped me to understand and learn more about trend following |
| 0:46.5 | than perhaps some of the more, let's say, less characters. |
| 0:52.2 | And my second book on The Turtles was a hell of a story. I mean, that book is |
| 0:59.6 | very complete, very tight, got a ton of information. But I couldn't put every last table scrap in |
| 1:06.5 | the book. Harper Collins at the time, they wanted it to be somewhat tight and not as long as I |
| 1:13.6 | would have made it, not as much color as I would have put into it. And one of the great characters |
| 1:19.3 | that I had a chance to talk to for that book was a guy named Mike Shannon. Mike was an original turtle. |
| 1:30.1 | He was in the second class that Richard Dennis and Bill Eckhart taught. |
| 1:37.8 | And I've not listened to Mike's interview for a few years. |
| 1:42.2 | And I decided, you know, I want to start to get some of this content |
| 1:46.0 | that I have that's timeless to get it out so people can listen to it and Mike's you know our |
| 1:53.3 | conversation my conversation with Mike is my first stab at finding some of this great timeless |
| 2:00.1 | archival information that I've assembled to putting it out |
| 2:03.3 | there for the public. So I'm going to go ahead and let you listen to this. I think you're going to |
| 2:12.2 | enjoy this. And, you know, the turtle story, if you don't know it, my second book, it's going to cost you like |
... |
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